HELOCs in Florida
What a typical Florida home could support, current HELOC rates, and the Florida rules that affect a home equity line, from a lender licensed in Florida.
Reviewed by Shawn Way, NMLS #1007298★ 4.9 from 111 reviewsUpdated
How much can you borrow with a HELOC in Florida?
About $125,650 is what a typical Florida home could support as a HELOC. That assumes the median $359,000 home, half of it still owed and an 85% combined cap. Typical HELOC rates for 720+ credit run about 8.00%–9.75% APR: the prime rate (7.00%) plus a margin. The median line Shawn Way's team funded in Florida since 2023 was $101,000.
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Florida home equity by the numbers
Florida's median owner-occupied home value is $359,000, the 14th highest of the 37 states and districts where Shawn is licensed. Here's what that home could support at an 85% cap, depending on how much is still owed:
| Mortgage balance | Possible line | Interest-only at 7.75% APR, fully drawn |
|---|---|---|
| $89,750 (25% owed) | $215,400 | $1,391 |
| $179,500 (50% owed) | $125,650 | $811 |
| $269,250 (75% owed) | $35,900 | $232 |
Median value of owner-occupied housing units, U.S. Census Bureau, American Community Survey 5-year estimates, 2020–2024. Your home's value and your income set your real number: calculate your own line.
Use a free calculator, or get your HELOC rate from Shawn.
Keeping a low rate: a Florida example
On a typical $359,000 home with $180,000 left on a 3.5% mortgage, borrowing $50,000 with a HELOC instead of a cash-out refinance saves about $142 a month:
| Option | Monthly cost |
|---|---|
| Keep the 3.5% mortgage, add a $50,000 HELOC (7.75% APR, 20-year payoff) | $1,312 |
| Cash-out refinance of $230,000 (6.5% illustrative rate, 30 years) | $1,454 |
Mortgage plus HELOC payments shown together; refinance shown as principal and interest. Run your own numbers.
2026 conforming loan limits in Florida
1 of Florida's 67 counties have limits above the $832,750 baseline. The other 66 use the baseline.
| County | 1 unit | 2 units | 4 units |
|---|---|---|---|
| Monroe | $990,150 | $1,267,600 | $1,904,150 |
These cap a conventional cash-out refinance; above them it becomes a jumbo loan. HELOCs aren't conforming loans, so the limit doesn't cap your line.
Source: FHFA 2026 conforming loan limits.
Florida by county: Miami-Dade County (Miami) · Broward County (Fort Lauderdale) · Palm Beach County (West Palm Beach and Boca Raton) · Hillsborough County (Tampa) · Orange County (Orlando) · Duval County (Jacksonville) · Sarasota County (Sarasota) · Collier County (Naples).
HELOCs Shawn's team has funded in Florida
Since 2023, loan officers on Shawn Way's team have funded 1,198 HELOCs on Florida homes, the #2 state for the team. The median line here was $101,000, above the team's median of $92,000 across all states.
| HELOCs funded | 1,198 |
|---|---|
| Median line | $101,000 |
| Middle half of lines | $60,000 to $156,000 |
| Median home value | $470,000 |
| Median line as a share of home value | 21% |
| Median starting rate, 2026 | 8.20% |
| Fixed-rate share | 88% |
| Borrowers with 720+ credit | 57% |
What HELOC rate do Florida borrowers actually get?
Florida borrowers got a median HELOC starting rate of 8.20% in 2026 on loans Shawn Way's team funded, 0.50 point lower than the team's 8.70% median across all states. 4% of Florida HELOCs were on investment properties, versus 3% overall. The gap reflects the local mix of credit, line sizes and properties, not different pricing.
| Credit score | HELOCs in 2026 | Median starting rate |
|---|---|---|
| 760+ | 72 | 7.50% |
| 720–759 | 52 | 7.95% |
| 680–719 | 60 | 8.89% |
| 640–679 | 34 | 9.93% |
From the team's funding records, with no borrower details. Rates depend on credit, line size and the date funded. Method and the full data: the HELOCHQ HELOC Report.
Owning a home in Florida: what lenders notice
Florida condo owners face a new wave of costs: after the 2021 Surfside collapse, the state requires milestone structural inspections and fully funded reserves for buildings three stories and taller, which has led to large special assessments. Lenders now look closely at condo reserves and inspection status, and a HELOC is a common way owners pay an assessment. Foreclosures in Florida go through the courts, and the state's Citizens Property Insurance is the insurer of last resort when private carriers won't write a policy.
Florida rules that affect your HELOC
- Florida charges documentary stamp tax of $0.35 per $100 on the note and a nonrecurring intangible tax of 0.2% on the amount secured. On a $100,000 line that's about $550, usually included in closing costs.
- No state income tax on wages. Lenders still qualify you on gross income (debt-to-income ratio), but the payment can be easier to carry.
- Florida's homestead exemption protects your home from most creditors, but not from a lien you sign voluntarily. A HELOC is enforceable against a homestead.
- Wind and flood insurance costs count toward your monthly housing expense, so a large premium can raise your debt-to-income ratio.
If payments ever become a problem
Foreclosures in Florida go through the courts, which usually takes longer. A second-lien HELOC lender can still foreclose, so call the lender early if payments get hard. What happens if you can't pay.
Where we lend in Florida
West Capital Lending, Inc. is licensed to lend in Florida. Shawn Way holds Florida Mortgage Loan Originator license #LO18358, first issued 02/13/2013. We lend statewide, including Miami, Tampa, Orlando, Jacksonville and Fort Lauderdale. Beyond HELOCs we offer purchase and refinance mortgages in Florida: conventional, FHA, VA, USDA, jumbo, self-employed, DSCR, construction and reverse mortgages.
Reviews from Florida borrowers
9 Florida borrowers have reviewed Shawn on Experience.com, averaging 4.75 stars.
- Richard P.Cocoa, FL · Sep 2024★5
- Bintou P.Orlando, FL · Sep 2024★4.25
- Gerald N.Pembroke Pines, FL · Aug 2024★5
- Michael B.Holiday, FL · Jun 2024★4.75
- Lawrence M.Tarpon Springs, FL · May 2024★5
- Lisa P.Summerfield, FL · May 2024★5
- Daniel T.Bonita Springs, FL · Apr 2023★3.75
- Neil M.Winter Garden, FL · Apr 2023★5
Names, locations, dates and star ratings from Shawn Way's verified reviews on Experience.com. Read the full reviews (4.9 from 111).
Common questions
Is HELOC interest deductible in Florida?
Florida has no state income tax on wages, so only the federal rule matters: interest can be deductible when the money buys, builds or substantially improves the home and you itemize. The rules.
Nearby states we lend in: HELOCs in Alabama.
More: credit score tiers · second homes · rentals.
Sources
Official sources behind this guide.
- What is the difference between a home equity loan and a HELOC? · Consumer Financial Protection Bureau
- What you should know about home equity lines of credit (booklet, PDF) · Consumer Financial Protection Bureau
- Publication 936, Home Mortgage Interest Deduction · Internal Revenue Service
- Bank Prime Loan Rate (DPRIME) · Federal Reserve Bank of St. Louis, FRED
- Regulation Z §1026.40: Requirements for home equity plans · Consumer Financial Protection Bureau
- Regulation Z §1026.15: Right of rescission · Consumer Financial Protection Bureau
- Find a HUD-approved housing counselor · Consumer Financial Protection Bureau